As per guidelines of the Insurance Regulatory and Development Authority of India (IRDAI), one promoter cannot hold more than 10 per cent stake in two insurance ventures.
The repayment period of these loans will be 36 months, including maximum moratorium of 12 months. The window is open till September 30, 2020.
"The bank has executed a share purchase agreement for sale of its equity stake of 0.206 percent in National Stock Exchange," it said in a regulatory filing.
Net Interest Income (NII) is expected to decrease by 5.6 percent Y-o-Y (down 4.7 percent Q-o-Q) to Rs. 2,480 crore, according to Sharekhan.
The company had registered a net loss of Rs 2,583.38 crore in the same quarter of the preceding fiscal.
The Finance Ministry may hold a round of discussion with some public sector banks regarding the second round of mergers in the banking space
Net Interest Income (NII) is expected to increase by 7.8 percent Y-o-Y (up 10.2 percent Q-o-Q) to Rs. 2,747.4 crore, according to Sharekhan.
Nifty PSU Bank added 1.5 percent in this afternoon session led by Syndicate Bank and Union Bank of India which jumped 3.5 percent each followed by Bank of Baroda, Canara Bank, Indian Bank and State Bank of India.
The market breadth was in favour of the declines with 428 stocks advancing while 1215 declined and 367 remained unchanged. On the other hand, in the BSE, 645 stocks advanced and 1542 declined and 94 remained unchanged.
The PSU banking index cracked 2.87 percent after investigation deepened in the PNB fraud case. The largest contributor to the index fall was Bank of India which plunged 6.46 percent, hitting fresh 52-week low. Syndicate Bank ended lower by 5 percent.
The market breadth was in favour of the declines with 410 stocks advancing in while 1176 stocks declined and 435 remained unchanged. On the other hand, 605 stocks advanced on BSE with 1411 stocks declining and 104 remained unchanged.
The stocks that hit new 52-week high on NSE included KEC International and Polaris Consulting among others while Dena Bank, Punjab National Bank and Syndicate Bank were some of the stocks that hit fresh 52-week low.
The market breadth was in favour of the declines on Monday morning with 120 stocks advancing while 1532 stocks declined and 382 stocks remained unchanged. On the BSE, 266 stocks advanced while 1960 stocks declined and 79 remained unchanged.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy IGL and sell Union Bank and Idea Cellular.
Lankesh, 55, was an outspoken critic of right-wing extremism.
The new rate will be applicable from August 21.
Reserve Bank of India (RBI) has levied penalties of Rs 2 crore and Rs 1 crore on the bank in two separate incidents of non-compliances.